What is Big Data?
It refers to the relatively large data sets and requires different data processing technology, which could process the data collected from the individuals; the big data stores information produced by the user intervention and may have positive and negative outcomes. However, big data sets are widely being produced, shaping the future of society and making markets more efficient.
In the age of digitalization, the world is getting more hi-tech, and people are switching to the digital means of communication and marketing; to cope with the pace of the world, people need advanced means so that the daily life can be made convenient however what less we know is that the applications, software or any mobile phones or computers we use are collecting huge amount of data from the users-interaction with them. The data it collects is being stored online in the data banks. Collectively these data are called big data, as it is the large sets of data. Different companies and organizations are now using big data, and some other institutes can also get their hands on the data being provided to this software, applications, or engines.
How big data is beneficial for society?
Society is getting modernized day by day, and the advancement of technology has shaped an individual’s life in a whole different way. With this advancement in technology, new technology is being introduced. The AI robots are impacting society; its markets are getting more digitalized, and to empower their businesses, they are purchasing big data from the companies and utilizing that to enhance their brands and target audience, keeping a keen eye on the preference and choices that you made on the single click on your phones, computers, etc. every bit of information is being stored by the companies, which is then sold on high prices to other companies so that they can get access to the individual choices, which will help those companies to make changes in their products to enhance user experience.
Companies are always seeking new ideas and trends. How they can enhance their customer’s experience, which was a struggle back in the days, but with big data and AI technology, it has become easier to keep track of people’s choices and to adapt to a change that the world is demanding for, and to keep up with the pace of the world and on-going demands, companies are reluctant in providing their customers with best user-experience, big data is mined into smaller data sets, which then help companies to make modifications in their products. It also opens up new ideas for them to advertise their company’s brand so that it is reached more people effectively.
It is a cost-efficient method for big companies who require a sample size of larger databases to purchase big data and then mine. They can generate new ideas for their companies and produce a product that fulfils the customers’ demands. This new method of collecting data from users is a smart way to deal with the demands of the people, and this not only provides data for the people, but it opens job opportunities for the people, as these data sets need to be monitored and to be processed to select relevant information that companies can utilize to enhance and modify their products and brands, the big data also helps in the keeping track of new trends, which makes it easy for the companies to launch relevant products that the customers are demanding.
Is Big Data risky?
Generally, the concept of Big Data is quite questionable as the production of data from everyday use of software and application results in a large amount of data, which may contain personal information of the user too. The companies are selling these data sets to other companies without even asking permission from the user, which raises the question of privacy and security for many people, as it risks the individual’s privacy. The invention of robots in AI- technology has increased the risk factor, as the technology is replacing humans’ job opportunities as the robots are more efficient than human beings, which are a concept, or reasoning that the companies give to use robots for the production and manufacturing of the products instead of humans. However, this negatively impacts society as people are getting jobless more often due to the companies shifting to new and improved technologies because the new technology is efficient and can complete a task rapidly.
The job opportunities are shrinking in the market because with the advancement of the technology; the companies are making new demands to hire an individual, which has led to the origin of new courses that different universities are now offering because the world knows that the advanced technology is taking over the world. Without proper education, it will become impossible for people to match their pace with society. Society is therefore changing rapidly, and with the advancement in technology and the era of big data, companies must create laws that hold those companies accountable who trade data sets for leaking any personal information of their clients and only that data is sold which is healthy for the growth of the respective company. The clients are aware of the data they provide to these applications and software, how the company will use user data, and how the company will extract a specific piece of information from the data produced every minute. That is how the world is being operated in this century.